The current state of global trade compliance is complex, owing to the ever-increasing geopolitical uncertainties and supply chain disturbances on the global level. This is making it harder for the businesses to meet trade norms. Trademo announces the launch of Trademo Compliance, a platform to help businesses participating in global supply chains meet import-export compliance norms, classify HS/HTS codes, determine accurate landed cost and manage cross-border taxes.
“Trademo compliance is being introduced to the market at just the right time considering supply chain disruptions, geopolitical risks and trade wars on the rise, complicating compliance requirements with rapidly changing duties, tariffs, etc.,” says Shalabh Singhal, founder and CEO, Trademo. “While nearly 76% of companies rely on manual study and assessment of trade regulations, the traditional methods of trade compliance are becoming impractical in today’s time. Front-line technologies like AI are shaping a new future of trade compliance management. This is where Trademo Compliance becomes the game changer for the global supply chain community.”
- Receive complete duty and tax compliance information for product catalogs including country-specific customs regulations and detailed licenses/permits insights for HS codes.
- Calculate duties for imports leveraging the extensive and latest information on tariffs like VAT, FTA, GST, etc., along with any other hidden charges like CESS, merchandise processing fees, etc.
- Enable enhanced HS code classification for products by facilitating advanced search through the database of more than 2 billion bills of lading, 500,000+ customs rulings and country-specific product/HS nomenclature.
- Avoid penalties and fines by ensuring proper compliance with the trade regulations of specific countries.
- Minimize compliance costs by gaining better visibility on country-specific FTAs and regulations and avoid unnecessary duties and taxes accordingly.